Climate philanthropists are often called on to support grassroots activists fighting fossil fuel projects in their backyards — like the Black community in Louisiana's Cancer Alley that is protesting the siting of yet another petrochemical plant or the Standing Rock Sioux fighting the Dakota Access Pipeline. A growing awareness of environmental justice means we look to fund folks who are directly impacted by the project in question, as they're usually the ones with the best solution. That's a positive development.

But while individuals and foundations give generously in support of frontline climate activists, most of our wealth is parked in banks that use those funds in ways that exacerbate the problems we're trying to address. Big banks like JPMorgan Chase, Wells Fargo, Bank of America, Citibank, and Morgan Stanley are major funders of the fossil fuel industry and provide many of the players in that space with unrestricted lines of credit. That money, in turn, is used to fund the projects our grantees are fighting to stop.

High-net-worth clients of these banks can and should be questioning them about their hypocrisy. We should ask — no, demand — that they not just measure financed emissions but take action to reduce them. Banks listen; they care about their reputations. In response to a spate of negative publicity, demands from the G'wichin people, and much client pressure, all six big U.S. money-center banks and dozens of international ones recently announced they will not fund drilling in the Arctic National Wildlife Refuge.

Foundations and high-net-worth donors can help advance the climate action movement by raising their voices. For some, that might be more difficult than writing a check, but it's really not that hard — and the upside is, well, exponential. Imagine if no one had to chain themselves to an Enbridge bulldozer; imagine if Enbridge couldn't secure the funds it needs to build Line 3. Imagine the impact your action would have on Native communities, ranchers, and farmers — not just tomorrow but for generations to come.

Fellow philanthropists, let's make our voices heard. Starting with Line 3, let's demand that our banks and bankers stop funding the climate crisis.

Read the full article about banking and fossil fuels by Jill Soffer at Candid.